EUR/USD Forecast January 21, 2016, Technical Analysis

The EUR/USD pair initially fell during the course of the day on Wednesday, but found enough buying pressure underneath to turn things back around and form a bit of a hammer. The hammer of course is a bullish sign and as a result it’s likely that the buyers may step into this market. However, keep in mind that the ECB has an interest rate decision coming out today, and more importantly a press conference. Because of this, we could get quite a bit of volatility, and with that it’s more than likely going to keep us on the sidelines until we get a daily close. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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